What is a flat bottom triangle?

Flat bottom triangles, or descending triangles are the reverse of the ascending triangle. These are viewed as bearish price formations and will have a flat bottom. The market will selloff down to a certain price level, find support, and move higher. The market will then sell back off to re-test the same support line forming a flat bottom.

What are triangle chart patterns?

Triangle chart patterns form with two trendlines that converge to a point. They come in three types: ascending triangle, descending triangle, and symmetrical triangle. Ascending triangle patterns indicate a bullish outlook. The top trend line illustrates the overhead resistance level, which is relatively flat.

What is a triangle in technical analysis?

A triangle is a chart pattern, depicted by drawing trendlines along a converging price range, that connotes a pause in the prevailing trend. Technical analysts categorize triangles as continuation patterns. In technical analysis, a triangle is a continuation pattern on a chart that forms a triangle-like shape.

What is a triangle pattern in forex?

What is a triangle pattern? A forex triangle pattern is a consolidation pattern that occurs mid-trend and usually signals a continuation of the existing trend. The triangle chart pattern is formed by drawing two converging trendlines as price temporarily moves in a sideways direction.